Himalayan General Insurance SGM today; to endorse 1:2.2 (220%) Right Share

Himalayan General Insurance Company Limited (HGI) is convening its Special General Meeting (SGM) today (Ashwin 7, 2073). The SGM is being held at Trade Tower Nepal, Thapathali, Kathmandu at 2: 00 PM. Main agendas of the SGM are:

• To endorse 1:2.2 (220%) right share to its existing shareholders and after the right share is issued to increase its capital and amend article of association accordingly.
• After issuance of right share to increase capital and amend the article of association accordingly.
• To amend article of association and memorandum of association as per directed by Insurance Board.

The register of the company was closed on Bhadra 27, 2073 for the purpose of its SGM. The insurance company has earned net profit of Rs 12.79 crore in the fourth quarter of the last fiscal year 2072/73 as per unaudited report. It’s paid up capital remains at Rs 32.10 crore. After the issuance of 220% right share, its paid up capital will reach to Rs 1.02 arba.